The state of Alaska will soon be issuing checks to residents for up to $3,200 as part of the Stimulus Check program.
Alaska’s stimulus payment is actually an annual dividend that the state regularly distributes (often known as an “oil-wealth check”). Early this year, Governor Mike Dunleavy approved the payment, and this month, eligible residents will begin receiving it. The annual budget was passed by the state legislature and Governor Mike Dunleavy in May. The budget said that qualifying residents will receive a $3,200 payout before the end of the year.
This Alaska stimulus check is a yearly payout that the state distributes to its citizens as a way to share its oil wealth.
Stimulus Check For Alaska: What Is It?
The 1982-established Alaska Permanent Fund will be used by the government to pay the dividend.
This budget is a blueprint for Alaska’s future, not just a spending plan. Budgets ought to represent the goals and values of the people for whom they are intended, and this law, in my opinion, does that, said Governor Dunleavy.
The state Senate initially suggested giving eligible residents $5,500 payments from the oil windfall. However, subsequent discussions led to the sum being reduced to $3,200, according to Alaska Public Media. After accounting for inflation, the payment is still the second-largest in state history.
One thing to keep in mind is that this year’s check contains two checks: the $650 energy assistance Stimulus Check and the regular $2,550 Stimulus Check. On September 20, eligible residents might anticipate the oil windfall checks to appear in their bank accounts. Residents who choose to get their payment via paper checks must wait until October.
Alaska typically pays dividends in October, but lawmakers chose to forward the payment this year to assist families who are struggling with the high cost of electricity and gasoline. Additionally, in 2020, the payment was accelerated due to the COVID-19 pandemic.